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Reed Elsevier Sells Aussie Media Business

Reed Elsevier Plc has sold its Australian media business to private equity firm Catalyst Investment Managers Pty as the global publisher seeks to move away from print advertising.

Catalyst, which manages more than 1 billion Australian dollars (US$ 1.06 billion), bought the country’s largest business-to-business media company for an undisclosed sum, the private equity firm said in a statement Friday.

Reed Business Information Australia, which runs online, newsletter and print titles such as Australian Doctor, Money Management, Pharmacy News and Australian Mining, will be rebranded over the next six months, Catalyst said in a statement, without providing further details.